The Corvette's first ever appeareance at the 1978 Indianapolis 500 was rightfully celebrated by one of the most well-known limited editions ever produced by Chevrolet.
On Memorial Day, 1978 the inaugural Indy 500 saw not only the first Corvette as a Pace Car, but also the first totally stock car led the way to the field of 33 cars during this event. The enormous success changed Chevrolet plan of making only 300 units as a collector's edition only run but after much protest from the dealers it was decided that there would be only one Pace Car for every one of them. With a window sticker price of 13.653,21$ it was 4,300$ more expensive than the 25th anniversary edition, and as soon as word got around for its limited availability, prices skyrocketed up to 30,000$ more than double. Of course, many decided to buy it in order it as an investment and the entire run of cars sold out almost immediately. This special edition came with a special two tone paint with red accent pinstriping, dedicated pace car stickers, glass T-tops, uniquely "smoke grey" leather interior and aluminium wheels.
Popular in its day, the Indy Pace Car Corvette started a series of limited editions from Chevrolet and begun a long tradition of Corvette pace cars of the Indianapolis 500.